Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v3.6.0.2
Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Options
We apply the following assumptions in our Black-Scholes-Merton Model option-pricing formula:
 
Year Ended
December 31,
2016
 
Year Ended
December 31,
2015
 
Year Ended
December 31,
2014
Expected term (in years)
1.0 - 10.0
 
1.0 - 10.0
 
1.0 - 10.0
Risk-free interest rate
0.71% - 2.51%
 
0.26% - 2.42%
 
0.10% - 2.65%
Expected volatility
38% - 64%
 
32% - 64%
 
31% - 72%
Expected dividend yield
0%
 
0%
 
0%
Summary of Option Activity Under Stock Plans
A summary of option activity under our stock option plans as of December 31, 2016, and the changes during the year is presented below: 
Options
Number of
options
 
Weighted
average
exercise
price
 
Weighted
average
remaining
contractual
term (years)
 
Aggregate
intrinsic value
(in thousands)
Outstanding at December 31, 2015
31,286,787

 
$
9.55

 
6.97
 
$
63,902

Granted
7,945,500

 
$
10.22

 
 
 
 
Exercised
(1,836,572
)
 
$
4.67

 
 
 
 
Forfeited
(1,472,314
)
 
$
11.28

 
 
 
 
Expired
(1,282,887
)
 
$
1.53

 
 
 
 
Outstanding at December 31, 2016
34,640,514

 
$
10.18

 
6.79
 
$
32,984

Vested and expected to vest at December 31, 2016
31,724,227

 
$
10.07

 
6.64
 
$
32,477

Exercisable at December 31, 2016
14,494,573

 
$
8.59

 
4.50
 
$
29,385